Manufacturing production fell by 5.5 per cent in the year to the end of March, new data showed today.

The Central Statistics Office said production fell 1.3 per cent on a monthly basis, while turnover was down 1.1 per cent on the year and 3.7 per cent compared to February.

The annual decline in production was most pronounced in pharmaceutical products and preparations, which was down  8.7 per cent compared to 2010. Production of beverages was 7.6 per cent lower year on year.

The modern sector, which includes high-technology and chemical sectors, was hit harder by the annual decline, falling by 7.4 per cent in March. The traditional sector was down 1.1 per cent.

On a seasonally adjusted basis, the volume of industrial production for the three months between January and March was 0.5 per cent lower than the previous quarter.

Turnover fell by 2.1 per cent in the same period.